French luxury brands keen on India

French luxury brands are keen on investing in India and predict a strong growth rate for their brands. Representatives of international luxury brands such as Chanel, Louis Vuitton, Lanvin and Cartier are currently visiting India and are excited about the prospects of growth. According to Damien Vernet, General Manager for West Asia and India for Louis Vuitton, said, "India is a very strategic market, and the market is close to fulfilling its potential." Igor Baschet, area manager for Cartier, who is in India to identify projects and partners, said, "The elite in India are growing at 20 to 30 per cent. India already has about 36 billionaires, with 14 of them who are new to the list."